NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS May 2025Issue 007
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
Welcome to this month’s update from LETH! As the maritime industry navigates new challenges, we’re here to keep you informed on
the latest developments and updates.
In April 2025, securing a Panama Canal transit slot was relatively straightforward, as demand remained low across all categories. The Canal
operated near full capacity, with an average of 34.7 vessels transiting daily out of a maximum daily capacity of 36. Most slots were
successfully obtained during the first and second booking periods. In particular, the Super and Neo-Panamax categories offered ample
availability, allowing clients greater flexibility to monitor vessel ETAs before committing to a slot.
Demand in the Super and Neo-Panamax segments remained generally stable, with only minor fluctuations. However, the Super segment saw
a notable decline in April, likely reflecting broader market conditions. Bids generally stayed close to starting levels, USD 55,000 for Supers
and USD 100,000 for Neo-Panamax. Approximately 51% auctions were were sold with remaining share being offered without any bidders.
Meanwhile, Regular sector slots continued to see slight demand due to limited daily availability (6 slots per day). However, the third booking
period (auction) saw a notable release of slots, with approximately 70% auctions were sold with remaining share being offered without any
bidders.
PANAMA CANAL
The Panama Canal Authority will close the west lane of the Pedro
Miguel Locks from 27 to 31 May 2025 for maintenance. During this
period, only the east lane will operate, and transits will take longer.
The number of Panamax lock booking slots will be reduced from 26
to 16. Booking caps will be set at 7 super vessels per direction (with
2 daylight-restricted) and 2 regular vessels per direction (with only 1
restricted vessel allowed per day). While existing bookings that
exceed these limits will still be honored, the total number of slots
available during this period will be 13 for super vessels and 3 for
regular vessels.
Read more here .
Update from Canal De PanamaAdvisory
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
Panamax Segment Distribution Neo-Panamax Segment DistributionRegular Segment Distribution
Vessel
Category
Special
Period
Period 1
(90 days)
Period 1.A
(30-15 days)
Supers 3 6 N/A
Regulars 2 1 N/A
Total 5 7 0
Period 2
(14-8 days)
4
0
4
Period 3
(Auctions)
(7-2 days)
0
0
0
Total
13
3
16
BOOKING SLOT ALLOCATION FOR PANAMAX LOCKS - MAY 27 TILL MAY 31 YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
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LETH NEWSLETTER MAY 2025
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
MIDDLE EAST UPDATE
Update from our analyst at Guardian
In Guardian, our Risk Advisory team closely monitors the Middle East developments to aid our clients with insights and operational
recommendations. As of April, the Middle East has been experiencing heightened maritime tensions in the Red Sea again. Hostilities have visibly
intensified between the United States and the Yemeni rebels, leading to greater regional implications. On 23 April, the Houthi rebels launched a
ballistic missile towards northern Israel, which the IDF claims to have shot down without causing any injuries. Air raid sirens were triggered in Haifa,
Krayot, and other areas west of the Sea of Galilee. Most recently, the Houthis successfully attacked the Ben Gurion Airport in Tel Aviv on 4 May. The
attack has caused massive disruptions and cancellations to Israeli air traffic. Afterwards, President Netanyahu declared that Israel would respond
against the Houthis and Iran, which sponsors them.
The current US-Iran relationship remains tense. Iran's backing of the Houthis has complicated diplomatic efforts and become a central issue in the
talks. On May 1, U.S. Secretary of Defence Pete Hegseth issued a statement to Iran over its support for the Houthis, promising consequences at a time
of America's choosing. President Donald Trump reinforced the pressure, declaring that any entity purchasing oil or petrochemicals from Iran would
face immediate secondary sanctions and be barred from doing business with the United States. With nuclear negotiations postponed and further
US threats and sanctions against Iran and its affiliates, tensions are at their pinnacle at the time of writing. Should the situation deteriorate entirely,
it could lead to further militarisation and regional spillover of the conflict.
Meanwhile, US airstrikes have been part of an almost daily campaign which began on 15 March, which targets Houthis in the Hodeidah, Marib, and
Saada governorates. On 17 April, the US carried out 13 airstrikes in Hodeidah that killed at least 80 people and injured over 150, followed by an
airstrike on 21 April in Yemen's capital, Sanaa, that reportedly killed at least 12 individuals. On April 29, the UK confirmed its first publicly
acknowledged joint airstrike with the US. The British Royal Air Force targeted a cluster of buildings south of Sanaa, used by the Houthis for drone
manufacturing. The maritime security situation in the Middle East remains volatile. Despite international military efforts, the Houthis continue to
pose a significant threat to global shipping lanes and now also air traffic. The international community monitors the situation closely, emphasising
the need for de-escalation and protecting vital maritime corridors.
Table 1
The Suez Canal Authority (SCA) has issued Circular No. 2/2025, effective
from 14th May 2025, introducing mandatory solid waste collection
and management services for all vessels transiting the canal. Launched
in collaboration with ANTIPOLLUTION EGYPT, this initiative supports
the SCA’s strategic objective of establishing a “Green Canal” by 2030.
The service ensures the efficient collection and environmentally
responsible handling of solid waste, in accordance with high
operational standards.
This circular reflects the SCA's broader strategy to modernize canal
operations and promote eco-friendly practices, aligning with global
maritime environmental standards.
Additional charges will apply for the management of solid waste
volumes that exceed the coverage provided by the mandatory fees, as
well as for vessels, floating units, and small crafts that are exempt from
the mandatory fees listed in Table 2.
Read more here .
Introduction of Solid Waste Management Services for Transiting Vessels
Mandatory fees for solid waste collection and management will be
applied to all vessels and floating units passing through the Suez Canal,
with the fees calculated based on the Suez Canal Net Tonnage (SCNT)
as outlined in Table 1.
Suez Canal Net
Tonnage (Net Tons)
Mandatory
Fees
(USD)
Volume of solid wastes included in
the mandatory fees
(cubic meters m³)
Up to 5 000 200 3
Over 5 000 to 10 000200 3
Over 10 000 to 20 000700 4
Over 20 000 to 40 000700 4
Over 40 000 to 70 000950 4
Over 70 000 to 120 0001200 5
Over 120 000 1200 5
Service Fees (USD)
Fees per cubic meters (m³ ) 70
Hiring Self- propelled barge per usage
-No Charge for the first hour
-Each additional hour, starting from
the second hour, is charges at $200.
Table 2
EGYPT
Source: Lloyds AIS, Observed Data
Suez Canal Per WeekTotalNorthboundSouthbound
Crude
Tanker
Product
Tanker
Dry BulkContainerLPG LNGChemicals
RoRo/
Vehicle
Carrier
Gen Cargo/
MPP
Other
Weekly Average Q2 25
(to date)
234.44117.83 116.61 58.39 2.78 60.5637.50 6.003.50 22.28 5.89 19.17 18.39
Weekly Average Q1 25
(Week 1-13)
+8.8 -1.7 +10.5 +9.4 +0.6 -0.5 -2.6 0.0+0.1 -3.4 +1.0 -0.5+4.7
Average Weekly Suez Canal Transits: Week 1-18/2025
